Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 9,636-square-foot net-leased property tenanted by CVS Pharmacy in Snellville, Georgia. The asset sold for $3.45 million, according to Benjamin Yelm, regional manager of the firm’s offices in the Carolinas.

Donald Gilchrist, an investment specialist in Marcus & Millichap’s Raleigh office, had the exclusive listing to market the property on behalf of the seller, 1938 Crestburg LLC. John Leonard, Marcus & Millichap’s regional manager and broker of record in Georgia, assisted in closing this transaction. “We were proud to represent our client, who will be exchanging into long-term investment properties,” said Gilchrist.

The property is situated on a major retail corridor that includes Target, PetSmart, Verizon, Starbucks and LA Fitness. Its prime location at the signalized intersection of Scenic Highway North and Ronald Reagan Parkway sees a daily traffic count of 93,426 vehicles per day. Also, the property has an absolute triple-net lease with CVS Pharmacy, its tenant, meaning the store is one hundred percent responsible for all expenses, including taxes and insurance.